demerara bank limited chief executive officer report for month of december 2009

demerara bank limited

Chief Executive OfficerReport for Month of December 2009


DepositsDec 2009 Dec 2008 % Inc

Savings 9,837,260 7,473,318 32%

Demand 2,377,695 1,841,698 30%

Term 15,665,148 13,719,964 15%

Due to Banks 365,976 405,779 -

TOTAL 28,246,079 23,440,759 21%

Profit for the month 77,446 75,273 3%

Cumulative Profit for the year 230,048 204,020 13%


Advances

Loan and overdraft applications in process –G$308.7 MillionLoans approved but not disbursed -G$536.17 Million

Dec 2009 Dec 2008 % Inc

Term Loans 4,703,493 3,921,797 20%

Overdrafts 4,588,576 4,402,337 5%

Total fund based Advances 9,292,069 8,324,134 12%

Other Bonds/Guarantees ( Non-fund based) 2,072,334 2,136,346 (3%)

TOTAL 11,364,403 10,460,480 (9%)

Average Yield on Advances (% p.a.) 11.19% 10.9% -

Non-Performing Assets 315,351 704,295 (56%)

Provisions for NPAs 490,216 715,438 (32%)

Recovery during month 4,249 200 -


Investments Dec 2009 Dec 2008 % Inc

Treasury Bills 100,000 350,000 (71%)

Local Bonds & Other Investment 226,976 228,030 -

Debenture of GOG 96,208 96,208 -

Overseas 15,604,606 13,914,296 12%

TOTAL 16,027,791 14,588,534 10%

Income on Investment 86,084 68,150 26%

Tax Free Income 48,738 166,120 (71%)

Total Tax free income for the current financial

year (actual) – 3 mths

132,112 650,000 (80%)

Yield on investment 6.4% 5.6% -


Profitability(GYD Millions) Dec 2009

Exchange Earnings 17

Net Interest Income 89.87

Interest Expense 82.86

Yield on Advances 11.19%

Cost of Funds 3.52%

Average Advances 9.29 Bln

Investments 16 Bln

New Accounts 350

Total Accounts 48,918

(GYD Millions) Dec 2009

Amalgamated Operational Profit

77.4

Main Branch 89.2

Rose Hall (8.28)

Corriverton (2.4)

Anna Regina (1.0)


Foreign Currency

Purchases USD23.00 Million

Sales USD25.00 Million

Average Spread GYD 0.54

Trading Profit GYD13.36 Million


Inter Bank Dealings

December 2009

Borrowed Lent

310 Million 5.3 Billion

Interest Paid: G$114,658:-

Interest Received: G$868,151:-


Branch DepositsDecember 2009 Rose Hall Corriverton Anna ReginaDate of opening Feb. 4, 2004 Aug. 4, 2008 May 25, 2009

Deposits G$1.96 B G$706 M G$238 M

Total No. of Accounts held to date 7,170 1,918 1,288

Accounts opened for Dec 2009 135 141 277

Profit/Loss for Dec 2009 (8.3M) (2.4M) (1M)

Cost of Fund 3.61% 2.64% 0.94%

Non-interest Expenses 8.8M 6M 3.9M


Schedule of InvestmentsType Value GYDForeign

Bonds USD 28,539,567.15 5,822,071,699 Treasury Bills USD 2,928,230.39 597,359,000 Equity USD 325,694.35 66,441,647 CDs/DCDs USD 1,000,000.00 204,000,000 Money Market A/cs USD 37,898,015.22 7,731,195,105

70,691,507.11 14,421,067,450

Bonds GBP 3,176,031.67 647,910,460 Treasury Bills GBP 879,166.67 179,350,000 Money Market A/cs GBP 778.92 158,899

4,055,977.25 827,419,359

Bonds EUR 1,730,500.37 353,022,075 T/Bills EUR - - Money Market A/cs EUR 15,181.49 3,097,023

1,745,681.85 356,119,098

Total Foreign Investments USD 76,493,166.21 15,604,605,908

Type Value GYDLocal

Bonds GYD 296,208,000Treasury Bills GYD 100,000,000Equity GYD 26,976,333

Total Local Investments GYD 423,184,333

Total Investments USD 78,567,599.22 16,027,790,241

Liquidity Analysis % GYDShort Term 55 8,781,601,674 Long Term 45 7,246,188,567

100 16,027,790,241


Schedule of InvestmentsCaribbean Exposure USD GYD

% of Portfolio

GOJ USD 5,621,099.00 1,146,704,225.00 7GOTT USD 1,860,074.00 379,455,116.00 2.4GOB USD 10,170,050.00 2,074,690,200.00 12.9GOSL USD 198,824.00 40,560,100.00 0.3GOTCI USD - - 0

17,850,047.00 3,641,409,641.00 22.7Indian Banks -BondsBOB USD 2,223,765.00 453,648,060.00 2.8SBOI USD 3,106,179.00 633,660,522.00 4ICICI USD 3,445,075.00 702,795,300.00 4.4Canara USD 341,875.00 69,742,500.00 0.4BOI USD 1,244,000.00 253,776,000.00 1.6UTI USD 979,525.00 199,823,100.00 0.006Rabobank USD 249,800.00 50,959,200.00 0.002

11,590,219.00 2,364,404,682.00 13.2UK BanksHSBC Bond GBP 2,099,782.00 428,355,460.00 2.7Barclays Bond GBP 1,076,250.00 219,555,000.00 1.4

Banco Do Brazil USD 308,550.00 62,944,200.00 0.4Republic of Brazil USD 193,800.00 39,535,200.00 0.2


Staff MovesResignations/Terminations

Ms Loriza Nagreadie – Credit – MigrationMr Riaz Allie – Foreign Trade Mr Ryan Kawall – Savings/DDA – StudyMr Shawn Gurcharran – Manager – PR & Operations

New Staff


eServices

First Facts 73 Companies 166 Accounts

Telebanking 285 Users

eBanking 1,618 Users

These services are all offered free.


ATM/Point of Sale

Location Value (G$)Amount of Transactions

ATM Debits

Camp Street 101,560,000 6,346

Guyoil, Regent St 49,757,500 4,241

City Mall 34,970,500 2,888

Diamond 43,946,000 2,992

POS Debits 2,698,219 204

ATM Credits

Camp Street 20,886,859 877

TOTAL 253,819,078 17,548


Branch ExpansionDiamond Branch

Phase 2 of our Diamond Branch is in process. In recent weeks, the contractor has picked up the pace of work at the site resulting in visible improvement. They have already cast slab for ground floor creating beam and column structure for second floor. Phase 2 is likely to be completed by April 2010. Regular visits are done to the site to check the progress.


TrainingDiamond Branch

As part of our Human Resource development, we have started a Credit Management Training Program for grooming of Credit Officers in the Bank.The Training Program is a very comprehensive one comprising of all major operational areas.The program may run for two weeks duration.


Interest Income Interest Inc (Adv) Interest Inc (Inv)

Total Interest Income Interest Expense Net Interest income

08-09 09-10 08-09 09-10 08-09 09-10 08-09 09-10 08-09 09-10

Oct 73,830 78,956 72,221 58,921 146,050 137,878 74,896 80,733 71,154 57,144

Nov 71,539 118,264 61,471 85,233 133,010 203,497 71,542 77,844 61,468 125,653

Dec 75,432 86,653 68,150 86,084 143,581 172,737 74,828 82,863 68,753 89,874

Jan 85,947 - 72,545 - 158,492 - 82,230 - 76,262 -

Feb 73,368 - 60,519 - 133,887 - 70,229 - 63,657 -

Mar 72,314 - 95,177 - 167,492 - 75,556 - 91,936 -

Apr 74,796 - 72,498 - 147,294 - 75,826 - 71,468 -

May 77,426 - 74,797 - 152,223 - 75,911 - 76,312 -

Jun 68,271 - 73,940 - 142,211 - 73,184 - 69,028 -

Jul 101,175 - 62,496 - 163,671 - 79,696 - 83,975 -

Aug 77,151 - 64,266 - 141,417 - 78,943 - 62,473 -

Sep 92,034 - 114,591 - 206,625 - 170,093 - 36,532 -

Tot 1,168,282 283,873 892,671 230,238 2,060,954 514,111 1,002,933 241,440 1,058,021 272,671

Avg 97,357 94,624 74,389 76,746 171,746 171,370 83,578 80,480 88,168 90,890


Interest Spread Avg Interest (Adv) Avg Interest (Inv) Avg Interest Exp Avg Spread (Adv) Avg Spread (Inv)

08-09 09-10 08-09 09-10 08-09 09-10 08-09 09-10 08-09 09-10

Oct 10.93% 10.34% 7.67% 4.48% 3.94% 3.83% 6.99% 6.51% 3.73% 0.65%

Nov 10.72% 15.41% 5.36% 6.39% 3.76% 3.57% 6.96% 11.84% 1.60% 2.82%

Dec 10.89% 11.19% 5.61% 6.44% 3.82% 3.52% 7.07% 7.67% 1.79% 2.92%

Jan 12.57% - 6.23% - 4.21% - 8.36% - 2.02% -

Feb 10.66% - 5.70% - 3.65% - 7.01% - 2.05% -

Mar 10.38% - 7.41% - 3.83% - 6.54% - 3.58% -

Apr 10.56% - 5.96% - 3.91% - 6.65% - 2.05% -

May 10.53% - 5.98% - 3.97% - 6.56% - 2.02% -

Jun 9.36% - 5.84% - 3.67% - 5.68% - 2.16% -

Jul 13.51% - 4.87% - 3.98% - 9.53% - 0.90% -

Aug 10.61% - 4.89% - 3.84% - 6.76% - 1.04% -

Sep 12.07% - 8.77% - 8.20% - 3.87% - 0.57% -

Tot 162.27% 36.94% 74.28% 17.32% 50.78% 10.92% 111.49% 26.02% 23.50% 6.39%

Avg 13.52% 12.31% 6.19% 5.77% 4.23% 3.64% 9.29% 8.67% 1.96% 2.13%


Exch Gain & Commissions

Exchange Comm & Other Income

08-09 09-10 08-09 09-10

Oct 31,783 20,521 10,991 966

Nov 16,122 25,376 5,206 6,356

Dec 32,550 17,183 7,210 7,477

Jan 1,810 - 7,274 -

Feb 29,781 - 8,544 -

Mar (29,248) - 6,862 -

Apr 19,596 - 6,477 -

May 27,492 - 8,507 -

Jun 18,345 - 7,819 -

Jul 30,692 - 9,407 -

Aug 54,114 - 7,309 -

Sep 66,403 - 235,113 -

Tot 299,441 63,080 95,722 14,799

Avg 24,953 21,027 7,977 4,933


Balances Advances Investments Deposits

08-09 09-10 08-09 09-10 08-09 09-10

Oct 8,106 9,163 11,292 15,768 22,789 25,281

Nov 8,011 9,207 13,767 16,010 22,836 26,151

Dec 8,315 9,292 14,589 16,028 23,523 28,246

Jan 8,208 - 13,976 - 23,441 -

Feb 8,258 - 12,743 - 23,100 -

Mar 8,363 - 15,414 - 23,662 -

Apr 8,497 - 14,593 - 23,245 -

May 8,823 - 15,003 - 22,967 -

Jun 8,755 - 15,206 - 23,907 -

Jul 8,987 - 15,390 - 24,048 -

Aug 8,730 - 15,785 - 24,641 -

Sep 9,153 - 15,683 - 24,896 -

Tot 102,204 27,662 173,440 47,807 283,055 79,678

Avg 8,517 9,221 14,453 15,936 23,588 26,559


Admin Expenses Staff Costs Administration Costs Prem & Vehicle Exp Net Profit

08-09 09-10 08-09 Provision 0-Jan Provision 08-09 09-10 08-09 09-10

Oct (13,421) 244 10,214 - 7,738 - 4,256 3,769 112,879 66,880

Nov 52,846 54,123 8,476 - 13,666 - 3,811 3,874 17,664 85,721

Dec 16,632 18,670 13,026 - 14,723 - 3,583 3,694 75,273 77,446

Jan 15,940 - 14,889 - - - 4,295 - 50,223 -

Feb 14,865 - 5,671 - - - 2,970 - 78,477 -

Mar 16,043 - 9,495 - - - 4,254 - 39,758 -

Apr 16,553 - 8,684 - - - 3,034 - 69,271 -

May 17,492 - 7,015 - - - 3,165 - 84,640 -

Jun 19,359 - 16,103 - - - 4,307 - 55,423 -

Jul 23,188 - 4,051 - - - 3,962 - 92,873 -

Aug 17,047 - 6,858 - - - 4,378 - 95,614 -

Sep 36,834 - 18,996 - - - 6,517 - 275,700 -

Tot 233,378 73,037 123,479 - 36,127 - 48,531 11,338 1,047,796 230,048

Avg 19,448 24,346 10,290- 12,042 4,044 3,779 87,316 76,683


Chief Executive Officer

demerara bank limited chief executive officer report for month of december 2009

Documents

total fund

total investmentsusd78

total tax free income

total foreign investmentsusd76

average yield

total local investments

process g

average spread gyd